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Tencent Acquires Majority Stake in Wuthering Waves' Kuro Games

Author : Olivia Update：Jan 23,2025

Wuthering Waves’ Kuro Games Taken Over by Tencent as Majority Shareholder

Tencent, the Chinese tech giant, has significantly increased its investment in Kuro Games, the developer of the popular mobile games Wuthering Waves and Punishing: Gray Raven. This move grants Tencent majority control of Kuro Games.

Tencent's Expanded Stake

Wuthering Waves’ Kuro Games Taken Over by Tencent as Majority Shareholder

Tencent's acquisition of an additional 37% stake brings its total ownership to 51.4%. This, coupled with the departure of other shareholders, establishes Tencent as the majority shareholder and sole external investor. This builds upon Tencent's initial investment in Kuro Games in 2023.

Maintaining Independence

Despite Tencent's controlling interest, Kuro Games assures continued operational independence. This mirrors Tencent's approach with other successful game studios like Riot Games (League of Legends, Valorant) and Supercell (Clash of Clans, Brawl Stars). Kuro Games' official statement emphasizes that this change fosters a more stable environment and supports its long-term independent strategy. Tencent has not yet released an official statement.

Kuro Games' Success

Kuro Games has achieved notable success with both Punishing: Gray Raven and Wuthering Waves, each generating over $120 million USD in revenue. The continued updates and ongoing success of these titles, including Wuthering Waves' nomination for The Game Awards' Players' Voice award, underscore Kuro Games' strong position in the gaming market.

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